Payment Option ARM Calculator

Loan Amount: $ Start Rate1: %

Current Index: % Margin: %

¹ The low initial Minimum Monthly Payment is calculated based on the low initial start rate. Rates are for calculation purposes only, please call your loan officer for rate quotes.

² Paying the Minimum Monthly Payment will result in deferred interest, which will be added to the principal balance and increase your loan amount. This is called negative amortization. For the first 5 years the minimum payment will increase 7.5% over the previous year.

³ The Monthly Savings is calculated using the current Index + Margin. Rate increases or decreases are not computed. Monthly Savings compares the 30 Year Payment to the Minimum Payment.

⁴ The Effective Interest Rate is the rate the Lender charges each month. It is equal to the Index Rate + Margin. The Index + Margin yield may change each month as the Index rate changes.

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Turnstone Mortgage - 403 A Gordon Drive - Exton, PA 19341
Office Phone: (800) 757-7514 Fax: (610) 280-7397

Turnstone Mortgage Company has arranged over for 4,000 mortgage loans for more than $600 million in fundings.  We are currenly licensed in PA, NJ & DE.  Call us and talk to an experienced mortgage professional. 

 

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